The dollar to naira black market exchange rate today and Aboki exchange rate for Monday June 5, 2023.
We bring to you USD/NGN (Dollar to Naira) exchange rate today based on Black Market rate, Lagos, Nigeria today
The value of Naira to Dollar exchange rate at black market is influenced by various economic and political factors, which determine the exchange rates on any given day. Additionally, there exists an unofficial exchange rate, known as the dollar to naira black market exchange rate, which is frequently higher than the official rate.
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Have you ever asked “how much is Dollar to Naira exchange rate?” in this article you will get the Dollar to Naira exchange rate for black market.
On this page, we are primary focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.
Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.”
Dollar to naira exchange rate today black market | Aboki Exchange Rate Today dollar to naira
Experts in the Bureau de Change (BDC) industry disclosed on Monday, June 4, 2023 that the current aboki exchange rate today for the US dollar to naira on the Parallel Market closed at ₦755 per dollar.
1 Dollar To Naira Black Market Exchange Rate Today June 5 , 2023.
| how much is dollar to naira black market (USD to NGN rate) | USD to naira black market today |
| Buying Rate | ₦ 750 |
| Selling Rate | ₦ 753 |
Therefore, 1000 Naira to dollar conversion rate will give you N753,000.
How much is $100 in black market today?.
Now, How much is $100 US in Nigeria?
- $100 USD in black market today will give you ₦75,300
Please note that the Central Bank of Nigeria (CBN), as the apex bank, does not acknowledge the parallel market (black market) and has directed Nigerians seeking to engage in Forex to approach their respective banks. Regrettably, due to the corrupt nature of Nigerian banks, it may take up to 60 days to obtain dollars through official channels. As a result, the black market remains the most dependable means of accessing dollars.
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Many Nigerians are greatly concerned about the exchange rate of the Nigerian naira against the dollar.
How much is Euro to naira today in black market.
| Euro to naira today (€) | Euro to naira today black market exchange rate. |
| Buying | ₦ 784 |
| Selling | ₦ 803 |
How much is Pound to naira today in black market.
| Pound to naira today (£) | pound to naira today black market exchange rate. |
| Buying | ₦ 909 |
| Selling | ₦ 915 |
The Canadian Dollar to Naira black market exchange rate today is N688/1c$
Rand to Naira
Today’s Rand to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Rand is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Rand to Naira (ZAR to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦39 |
| Selling Rate | ₦42 |
Dirham to Naira
Today’s Dirham to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Dirham is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Dirham to Naira (AED to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦165 |
| Selling Rate | ₦169 |
Yuan to Naira
Today’s Yuan to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Chinese Yuan is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Yuan to Naira (CNY to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦86 |
| Selling Rate | ₦90 |
Ghanaian Cedi to Naira
Today’s Ghanaian Cedis to Naira black market rate is the rate Aboki/Bureau De Change (BDC) are selling and buying. The Ghanaian Cedis is currently in Abuja, Kano, and Lagos. There might be slight variations in the different parallel (unofficial) markets.
| Cedi to Naira (GHS to NGN) | Black Market Exchange Rate Today |
| Buying Rate | ₦68 |
| Selling Rate | ₦73 |
CAD to Naira Black Market
What is the current Black Market Dollar To Naira Exchange Rate Today or the parallel market? Well, it may interest you, how much is dollar to naira Black Market Exchange rate for today sometimes varies hugely from the rate in Central Bank of Nigeria website (www.cbn.gov.ng).
The price listed above is the current USD to Naira exchange rate. We will always update the latest rate on a daily basis to keep you informed. Dollar to Naira Exchange Rate is the current exchange equivalent of the United States Dollar. Rate varies for various banks and parallel markets.
How Much is 1 dollar to naira Official Exchange Rate Today.
Parallel exchange rate (black market) exchange rate is always different from CBN rate. Currently, Naira is trading at average of 461 naira per dollar. The Nigerian Economy is drastically affected by the Dollar to Naira Black Market Exchange rate.
The following is Interbank dollar to naira rate
| 1 Dollar to Naira Today (USD to NGN rate) | Official dollar to naira rate |
| Buying Rate | 464 |
| Selling Rate | 467 |
- 1 Euro to naira today official rate is 486 per €1
- 1 Pounds to naira today official rate is N546 per 1£
Dollar to Naira Bank rate today.
Banks in Nigeria sell dollars between 545 to 569 to a dollar.
IPMAN seeks fuel importation license in wake of oil sector deregulation.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has made a plea to the Federal Government to authorise its members to import petroleum following the deregulation of the sector.
During a press briefing in Lagos on Sunday, Chief Ukadike Chinedu, the IPMAN National Public Relations Officer, made a call.
According to an official from the Independent Petroleum Marketers Association of Nigeria (IPMAN), the absence of the United States dollar poses a challenge. However, the official also contended that the government should grant marketers access to foreign exchange in the same manner as the Nigerian National Petroleum Corporation Limited (NNPCL).
The NNPCL has been accused of importing without allowing others to participate in the process, thereby preventing the private sector from potentially importing the product at a lower cost. With no competition in sight, the situation remains unchanged. According to Ukadike, in a deregulated regime, competition must be present and all those with the ability to import should be permitted to do so.
Dollar To Naira Black Market Exchange Rate Today June 5 , 2023
In response to inquiries regarding the resumption of imports by other marketers following the government’s recent deregulation of petrol prices, Ukadike stated, “Marketers have the option to import, however, there are several factors that are hindering this process.” One of the major concerns is the potential scarcity of dollars.
According to sources, individuals are being advised to obtain their dollars from the parallel market. However, caution is being urged as those who engage in the importation of petroleum products without proper care may face dire consequences.
According to the speaker, it is suggested that the benefits possessed by NNPCL ought to be extended to other prominent importers of petroleum products. Independent petroleum marketers, such as members of IPMAN, are calling for transparency from the government regarding crude buy-back. They are requesting that the government inform them if this method is being used, so that they can gather funds to participate in the buy-back model.
When asked about the feasibility of the situation, he responded by questioning the government’s incentives for increasing petroleum product imports and promoting competition, stating, “If it is not possible, what are the incentives the government is giving to us?”
According to independent marketers, the availability of petroleum products is of utmost importance. They are urging the government to open up the space for importers and investors to ensure a steady supply.
Dollar To Naira Black Market Exchange Rate Today June 5 , 2023
Dollar to Naira Exchange Crisis.
The dollar to naira exchange crisis has been a major concern for Nigerians for many years. The Nigerian currency has been losing value against the dollar, causing inflation and economic instability in the country. The shortage of foreign exchange and the devaluation of the naira have made it difficult for individuals and businesses to access foreign currency. This has led to a rise in the cost of goods and services, making life difficult for the average Nigerian. Despite efforts by the government to stabilize the exchange rate, the crisis has persisted, and many Nigerians are still struggling to cope with the economic realities caused by the devaluation of the naira.
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Facts influencing exchange rate.
The following are some of the factors that can influence exchange rate in Nigeria.
Political Stability: Any insecurity or uncertainty in a country’s political climate can have an impact on its currency. If there is political unrest or uncertainty in Nigeria, for example, the Naira may weaken.
Economic Performance: A country’s currency can be influenced by the strength of its economy, which includes factors such as inflation, interest rates, and economic growth. If the Nigerian economy performs well, the Naira will likely strengthen.
Foreign Investment: Foreign investment in a country can have an effect on its currency. If foreign investors have faith in the Nigerian economy, they may invest more, causing the Naira to strengthen.
International Trade: Nigeria’s international trade activities, such as the export and import of goods and services, can also have an impact on the country’s currency. A high volume of exports may increase demand for the Naira, thereby strengthening its value.
What’s your Opinion on Dollar To Naira Black Market Exchange Rate Today June 5 , let us know what you think and how the Government can work with the CBN to provide reasonable USD to naira rates in the future.
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Thank you for using our platform to stay up-to-date on the latest news in Nigeria, specifically regarding the CBN’s dollar to naira exchange rate, Aboki Exchange Rate Today dollar to naira and the Black Market exchange rate for June 5 , 2023.
